1

September 02, 2014

Justification:
The stock prices experienced a sharp decline after posting a new multi-year high of `196 (high on June 06, 2014). This
correction got arrested in the first half of July 2014. Since then the stock has been lingering around the daily 89 EMAby
maintaining very narrow trading range. During the session, we are observing a significant rise in intraday volumes amid
strong movement on the upside. The daily momentum oscillators are also supporting this price action by signaling a positive
crossover. Looking at these parameters, we expect the stock to give a breakout from the Downward Sloping Trend Line
around `175.50. In anticipation of this up move, we advise traders to buy from current level to a decline up to `17 2 for a
target of `18 8 in coming 2 3 weeks. The stop loss for this trade set up can be kept at `1 67 .
NMDC (NSE Cash)
Daily Chart
BUY `167 `174.50 172 `188
Source: Falcon (Chart time IST 10.50)


Strong Support
zone



September 02, 2014

2


Research Team Tel: 022 30940000 (Extn: 6552) Website: www.angelbroking.com Email: techno-edge@angelbroking.com
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